第一章 为什么研究瑞幸？——你的第一堂商业启蒙课 / Chapter 1 Why Study Luckin Coffee? Your First Business启蒙Class

早上七点半，你叼着半块面包冲进学校前的地铁口，手机点开瑞幸APP，选了常喝的生椰拿铁加一份浓缩，结算页面跳出来“新用户立减20元”，最终实付9.9元。你取完咖啡冲进教室，刚好赶上早自习铃响——这个场景是不是每周至少出现三次？如果你身边的朋友里没有喝过瑞幸的人，大概率是你还没上初中。

7:30 a.m., you rush out of the subway entrance at the gate of your school with half a piece of bread in your mouth, open the Luckin Coffee APP, select your usual coconut milk latte with an extra shot of espresso, and a "20 yuan off for new users" pop-up appears on the checkout page, with a final payment of only 9.9 yuan. You pick up your coffee and rush into the classroom just in time for the morning study bell — does this scene happen at least three times a week? If none of your friends have ever tried Luckin Coffee, it's probably because you haven't entered junior high school yet.

很多人觉得，瑞幸不就是个卖便宜咖啡的？有什么好研究的？但如果你换个角度想：你每天喝的9.9元咖啡、抢过的茅台联名款、吐槽过的“奇奇怪怪的新品”，背后藏着的是一整套完整的商业逻辑——从怎么定位用户、怎么定价、怎么选门店地址，到怎么应对危机、怎么从破产边缘爬回来，这些逻辑不是书本上的抽象理论，是你每天都能接触到的真实案例。我们选择瑞幸作为整本书的商业研究样本，不是因为它是最成功的品牌，而是因为它是最适合青少年入门商业学习的“活教材”：它离你足够近，近到你每周至少消费三次；它经历得足够全，全到覆盖了新消费品牌从0到1、从巅峰到谷底、从破产到重生的所有阶段；它的所有动作都足够接地气，接地气到你甚至能参与到它的商业决策里——比如你喝不喝它的新品，直接决定了它会不会继续推出同系列的产品。

很多人觉得“商业思维”是CEO、老板才需要的东西，和普通学生没关系。但你可以想一下：你平时选奶茶店的时候，会对比价格、口味、距离，选性价比最高的那家，这就是最基础的商业思维——权衡利弊，做出最优选择；你帮班级卖 fundraiser 的奶茶，会算成本、定价格、搞促销，想办法多赚钱，这就是最朴素的商业运营能力。而瑞幸的所有动作，都是把这些基础的商业逻辑放大到了公司层面，你能从它身上学到的，不是怎么开一家咖啡店，而是怎么用商业思维解决你生活中遇到的各种问题——不管你是以后想开奶茶店、做自媒体、当设计师，还是进大厂上班，这些能力都能用得上。

一、瑞幸：离你最近的商业样本 / 1. Luckin: The Business Sample Closest to You

我们之所以选择瑞幸作为全书的商业研究样本，核心原因有三个：它足够近、经历足够全、和你的生活足够相关。

1.1 它是年轻用户占比最高的新消费品牌之一 / It is one of the new consumer brands with the highest proportion of young users

根据瑞幸2023年公开的财报和用户调研数据，18-34岁用户占其总用户量的72.3%，其中18-25岁的青少年群体占比达到38.2%，在校大学生群体占比超过21%，是瑞幸最大的用户基本盘。这个数据是什么概念？相当于你每走进一所大学的教学楼，随机找10个学生，至少有3个上周喝过瑞幸；你每刷10条短视频，至少有1条是瑞幸的新品测评或者营销内容。

这个数据是什么概念？相当于你每走进一所大学的教学楼，随机找10个学生，至少有3个上周喝过瑞幸；你每刷10条短视频，至少有1条是瑞幸的新品测评或者营销内容。如果你所在的城市有大学城，这种感知会更强烈：海淀区中关村大学城周边3公里范围内分布着7家瑞幸门店，其中中国人民大学东门的那家门店，工作日下午2点的取餐队伍经常排到店外，80%的订单来自18-22岁的在校学生，点单最多的不是传统黑咖啡

早上七点半，你叼着半块面包冲进学校前的地铁口，手机点开瑞幸APP，选了常喝的生椰拿铁加一份浓缩，结算页面跳出来“新用户立减20元”，最终实付9.9元。你取完咖啡冲进教室，刚好赶上早自习铃响——这个场景是不是每周至少出现三次？如果你身边的朋友里没有喝过瑞幸的人，大概率是你还没上初中。

7:30 a.m., you rush out of the subway entrance at the gate of your school with half a piece of bread in your mouth, open the Luckin Coffee APP, select your usual coconut milk latte with an extra shot of espresso, and a "20 yuan off for new users" pop-up appears on the checkout page, with a final payment of only 9.9 yuan. You pick up your coffee and rush into the classroom just in time for the morning study bell — does this scene happen at least three times a week? If none of your friends have ever tried Luckin Coffee, it's probably because you haven't entered junior high school yet.

很多人觉得，瑞幸不就是个卖便宜咖啡的？有什么好研究的？但如果你换个角度想：你每天喝的9.9元咖啡、抢过的茅台联名款、吐槽过的“奇奇怪怪的新品”，背后藏着的是一整套完整的商业逻辑——从怎么定位用户、怎么定价、怎么选门店地址，到怎么应对危机、怎么从破产边缘爬回来，这些逻辑不是书本上的抽象理论，是你每天都能接触到的真实案例。我们选择瑞幸作为整本书的商业研究样本，不是因为它是最成功的品牌，而是因为它是最适合青少年入门商业学习的“活教材”：它离你足够近，近到你每周至少消费三次；它经历得足够全，全到覆盖了新消费品牌从0到1、从巅峰到谷底、从破产到重生的所有阶段；它的所有动作都足够接地气，接地气到你甚至能参与到它的商业决策里——比如你喝不喝它的新品，直接决定了它会不会继续推出同系列的产品。

Many people think, "Luckin is just a cheap coffee shop. What's there to study?" But if you think about it from another angle: the 9.9-yuan coffee you drink every day, the Moutai co-branded product you抢ed, the "weird new products" you complained about — all hide a complete set of business logic: from how to定位users, how to set prices, how to choose store locations, to how to deal with crises, how to climb back from the brink of bankruptcy. These logics are not abstract theories in books, but real cases you come into contact with every day. We chose Luckin as the business research sample for the whole book, not because it is the most successful brand, but because it is the most suitable "living textbook" for teenagers to learn business入门: it is close enough to you, so close that you consume it at least three times a week; its experience is complete enough to cover all stages of a new consumer brand, from 0 to 1, from peak to trough, from bankruptcy to rebirth; all its actions are grounded enough that you can even participate in its business decisions — for example, whether you drink its new products or not directly determines whether it will continue to launch products of the same series.

很多人觉得“商业思维”是CEO、老板才需要的东西，和普通学生没关系。但你可以想一下：你平时选奶茶店的时候，会对比价格、口味、距离，选性价比最高的那家，这就是最基础的商业思维——权衡利弊，做出最优选择；你帮班级卖 fundraiser 的奶茶，会算成本、定价格、搞促销，想办法多赚钱，这就是最朴素的商业运营能力。而瑞幸的所有动作，都是把这些基础的商业逻辑放大到了公司层面，你能从它身上学到的，不是怎么开一家咖啡店，而是怎么用商业思维解决你生活中遇到的各种问题——不管你是以后想开奶茶店、做自媒体、当设计师，还是进大厂上班，这些能力都能用得上。

Many people think that "business thinking" is only needed by CEOs and bosses, and has nothing to do with ordinary students. But you can think about it: when you choose a milk tea shop usually, you will compare prices, tastes, and distances, and choose the one with the best cost performance, which is the most basic business thinking — weighing pros and cons to make the optimal choice; when you sell milk tea for your class's fundraiser, you will calculate costs, set prices, run promotions, and try to make more money, which is the most simple business operation ability. And all of Luckin's actions are magnifying these basic business logics to the company level. What you can learn from it is not how to open a coffee shop, but how to use business thinking to solve various problems you encounter in life — whether you want to open a milk tea shop, be a self-media person, be a designer, or work in a big factory in the future, these abilities can be used.

一、瑞幸：离你最近的商业样本 / 1. Luckin: The Business Sample Closest to You

我们之所以选择瑞幸作为全书的商业研究样本，核心原因有三个：它足够近、经历足够全、和你的生活足够相关。

The reason why we chose Luckin as the business research sample for the whole book is that it has three core advantages: it is close enough, its experience is complete enough, and it is highly relevant to your life.

1.1 它是年轻用户占比最高的新消费品牌之一 / It is one of the new consumer brands with the highest proportion of young users

根据瑞幸2023年公开的财报和用户调研数据，18-34岁用户占其总用户量的72.3%，其中18-25岁的青少年群体占比达到38.2%，在校大学生群体占比超过21%，是瑞幸最大的用户基本盘。这个数据是什么概念？相当于你每走进一所大学的教学楼，随机找10个学生，至少有3个上周喝过瑞幸；你每刷10条短视频，至少有1条是瑞幸的新品测评或者营销内容。如果你所在的城市有大学城，这种感知会更强烈：海淀区中关村大学城周边3公里范围内分布着7家瑞幸门店，其中中国人民大学东门的那家门店，工作日下午2点的取餐队伍经常排到店外，80%的订单来自18-22岁的在校学生，点单最多的不是传统黑咖啡，而是生椰拿铁、椰云拿铁这类带奶味、甜感明显、名字好记的“轻咖啡”产品——2023年瑞幸的爆品生椰拿铁全年销量突破3亿杯，相当于给全国14亿人每人分了两杯多，其中近60%的购买者是25岁以下的用户。

According to Luckin's 2023 public financial report and user survey data, users aged 18-34 account for 72.3% of its total user base, of which teenagers aged 18-25 account for 38.2%, and college students account for more than 21%, which is Luckin's largest user base. What does this data mean? It means that every time you walk into a university teaching building and randomly find 10 students, at least 3 of them have drunk Luckin in the past week; every time you scroll through 10 short videos, at least 1 of them is a new product review or marketing content of Luckin. If your city has a university town, this perception will be stronger: there are 7 Luckin stores within 3 kilometers of the Zhongguancun University Town in Haidian District, Beijing. Among them, the store at the east gate of Renmin University of China often has a queuing line outside the store at 2 p.m. on working days, and 80% of the orders come from students aged 18-22. The most ordered products are not traditional black coffee, but "light coffee" products with milky flavor, obvious sweetness and easy-to-remember names such as coconut milk latte and coconut cloud latte — the 2023 blockbuster coconut milk latte of Luckin sold more than 300 million cups throughout the year, which is equivalent to giving more than two cups to each of the 1.4 billion people in China, of which nearly 60% of the buyers are under 25 years old.

这个数据侧面说明：瑞幸不是“卖咖啡给爱喝咖啡的人”，而是“卖好喝的带咖啡味的饮料给不爱喝苦咖啡的年轻人”，它的用户定位从一开始就没打算做高端小众的第三波咖啡，而是要做大众都能消费得起的日常饮品，这和青少年日常消费的场景完全契合：你买它不是因为它“专业”，是因为它好喝、便宜、买得起、随时能拿到。对比同价位的其他咖啡品牌，比如库迪咖啡、Manner咖啡，瑞幸的SKU（库存单位，也就是产品种类）超过100种，除了咖啡还有奶茶、果茶、周边产品，总有一款能戳中你的喜好；它的门店覆盖率是全国第一，你学校门口、地铁口、商圈里几乎都能找到，下单后最快15分钟就能拿到，比你点外卖送奶茶还快。

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